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November 30, 2007

BEE company to buy wine trust loan book

Kader Asmal, chairman of the South African Wine Council and trustee of the South African Wine Industry Trust (Sawit), has welcomed with "relief" a deal in which the trust' s loan book in Phetogo Investments, the black empowerment partner of KWV, will be bought by a third party.

Asmal said that after almost 18 months of "intensive" negotiations Cebi Capital, a recently established empowerment commercial lending entity which is in the process of concluding agreements with its major investors, will pay Sawit R100m for its interest in Phetogo

Posted by StaffWriter at November 30, 2007 7:29 AM